Universal Forest Products Alters Corporate Structure
Grand Rapids, Michigan, USA, 20 December 2009 -- (BUSINESS WIRE) -- Universal Forest Products, Inc. (Nasdaq: UFPI-News) today announced changes to its structure intended to enhance company growth and profitability. Beginning 01 January 2010, Universal Forest Products Eastern Division, Inc.will be divided into two entities: a Northern Division and a Southern Division.
Scott Greene, currently president of the Eastern Division, will become president of the Southern Division. Robert Lees, a 32-year Universal veteran and regional vice president of the company, is being promoted to president of the Northern Division.
"This puts field leadership in a stronger position to help our operations drive profitability, to spend more time assisting the company with strategic growth initiatives, and it allows us to respond more quickly to the many growth opportunities we see in the field every day," said Pat Webster, president and COO.
“We are making these changes to drive faster growth. By concentrating on a smaller entity, I’ll be able to have a bigger impact on our facilities’ success," said Greene. "I’ll also have more time to spend with customers and on potential acquisitions, and I look forward to the challenges and opportunities these changes present.”
The company’s legal entity structure also is being modified to more closely reflect its management structure.
“We are well positioned for 2010 and beyond,” said Michael B. Glenn, chief executive officer. “We’re structured for growth, we have the right leaders in the right positions, we have opportunity at our doorstep, and we have hard-working, dedicated employees ready for a new path of growth. These are exciting times for Universal Forest Products.”
Universal Forest Products, Inc. is a holding company that provides capital, management, and administrative resources to subsidiaries that design, manufacture, and market wood and wood-alternative products for do-it-yourself/retail home centers and other retailers, structural lumber products for the manufactured housing industry, engineered wood components for the site-built construction market, and specialty wood packaging and components for various industries. The company's consumer products subsidiary offers a large portfolio of outdoor living products, including wood composite decking, decorative balusters, post caps, and plastic lattice. Its lawn and garden group offers an array of products, such as trellises and arches, to retailers nationwide. Universal’s subsidiaries also provide framing services for the site-built market and forming products for concrete construction. Founded in 1955, Universal Forest Products is headquartered in Grand Rapids, Michigan, and has facilities throughout North America. For more about Universal Forest Products, go to www.ufpi.com.